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Fortress Biotech (FBIO)
NASDAQ:FBIO
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Fortress Biotech
(NASDAQ:FBIO)
41Neutral
Fortress Biotech (FBIO) vs. S&P 500 (SPY)
Market Cap
$53.52M
Dividend YieldN/A
Average Volume (3M)173.08K
Price to Earnings (P/E)―
Beta (1Y)1.69
Revenue Growth-32.11%
EPS Growth88.12%
CountryUS
Employees101
SectorHealthcare
Sector Strength41
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding29,569,553
10 Day Avg. Volume155,604
30 Day Avg. Volume173,079
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)2.15
Price to Sales (P/S)0.00
P/FCF Ratio-0.77
Enterprise Value/Market Cap0.68
Enterprise Value/Revenue0.14
Enterprise Value/Gross Profit1.19
Enterprise Value/Ebitda-0.09
Forecast
1Y Price Target
$10.00Price Target Upside468.18% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Fortress Biotech Business Overview & Revenue Model
Company DescriptionFortress Biotech, Inc., a biopharmaceutical company, develops and commercializes pharmaceutical and biotechnology products. The company markets dermatology products, such as Ximino capsules to treat only inflammatory lesions of non-nodular moderate to severe acne vulgaris; Targadox for severe acne; Exelderm cream for ringworm and jock itch symptoms; Ceracade for dry skin conditions; Luxamend for dressing and managing wounds; and Accutane capsules for severe recalcitrant nodular acne. It also develops late stage product candidates, such as intravenous Tramadol for the treatment of post-operative acute pain; CUTX-101, an injection for the treatment of Menkes disease; MB-107 and MB-207 for the treatment of X-linked severe combined immunodeficiency; Cosibelimab for metastatic cancers; CK-101 for the treatment of patients with EGFR mutation-positive NSCLC; CAEL-101 for the treatment of amyloid light chain amyloidosis; Triplex vaccine for cytomegalovirus; and CEVA101 for the treatment of severe traumatic brain injury in adults and children. The company's early stage product candidates include MB-102 for blastic plasmacytoid dendritic cell neoplasm; MB-101 for glioblastoma; MB-104 for multiple myeloma and light chain amyloidosis; MB-106 for B-cell non-hodgkin lymphoma; MB-103 for GBM & metastatic breast cancer to brain; MB-108; MB-105 for prostate and pancreatic cancers; and BAER-101. Its preclinical product candidates comprise AAV-ATP7A gene therapy; AVTS-001 gene therapy; CK-103 BET inhibitor; CEVA-D and CEVA-102; CK-302, an anti-GITR; CK-303, an anti-CAIX; ConVax; and ONCOlogues, and oligonucleotide platform. It has collaboration arrangements with universities, research institutes, and pharmaceutical companies. The company was formerly known as Coronado Biosciences, Inc. and changed its name to Fortress Biotech, Inc. in April 2015. Fortress Biotech, Inc. was incorporated in 2006 and is based in Bay Harbor Island, New York.
How the Company Makes MoneyFortress Biotech generates revenue through a combination of product sales, royalties, and milestone payments. The company collaborates with a number of subsidiary and partner companies to advance its drug candidates. Revenue is primarily derived from the commercialization of approved products, which are marketed and sold either directly by Fortress or through its subsidiaries and partners. Additionally, Fortress earns milestone payments and royalties from its strategic partnerships and licensing agreements with other biopharmaceutical companies. These partnerships often involve co-development and commercialization arrangements where Fortress leverages its expertise and resources to bring innovative therapies to market.
Fortress Biotech Financial Statement Overview
Summary
Fortress Biotech is facing financial instability with declining revenues, persistent net losses, and high leverage, as indicated by scores of 30, 40, and 25 for income statement, balance sheet, and cash flow, respectively. While the gross profit margin is high, profitability metrics are negative, posing liquidity and solvency risks.Income Statement
Fortress Biotech has experienced a challenging financial period with declining revenues from 2023 to 2024, and persistent net losses. The gross profit margin remains positive at approximately 100% due to negligible cost of goods sold, but the company faces a negative EBIT and EBITDA margin, indicating operational inefficiencies. The net profit margin is significantly negative, reflecting high net losses relative to total revenue. Revenue growth was negative in the latest year, indicating a contraction in sales.30
Negative
Balance Sheet
The balance sheet shows high leverage with a debt-to-equity ratio indicating significant reliance on debt financing. Stockholders' equity has decreased over time, impacting the equity ratio negatively. The return on equity is negative due to continuous net losses, suggesting poor return on shareholders' investments. The current debt levels could pose a risk if profitability does not improve.40
Negative
Cash Flow
The cash flow analysis reveals negative operating cash flows, indicating that the company is not generating sufficient cash from operations to cover its expenses. Free cash flow is also negative, pointing to challenges in creating value for shareholders. The operating cash flow to net income ratio is unfavorable due to significant cash outflows and net losses.25
Negative
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 57.78M | 57.67M | 84.51M | 75.74M | 68.79M | 45.60M | Gross Profit |
| 30.58M | 36.80M | 57.85M | 44.97M | 36.71M | 31.00M | EBIT |
| -96.03M | -110.38M | -142.34M | -202.26M | -179.00M | -94.27M | EBITDA |
| -91.31M | -104.49M | -133.64M | -190.47M | -142.25M | -87.82M | Net Income Common Stockholders |
| -43.30M | -46.00M | -60.64M | -213.91M | -164.83M | -102.98M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 91.34M | 57.26M | 80.93M | 178.27M | 305.74M | 233.35M | Total Assets |
| 178.07M | 144.22M | 167.53M | 294.30M | 396.50M | 328.83M | Total Debt |
| 74.24M | 75.96M | 88.59M | 127.34M | 74.98M | 89.08M | Net Debt |
| -17.10M | 18.70M | 7.67M | -50.92M | -230.77M | -144.28M | Total Liabilities |
| 145.59M | 145.87M | 165.94M | 244.28M | 170.63M | 131.84M | Stockholders Equity |
| 22.25M | 22.74M | 22.54M | 41.72M | 108.67M | 100.34M |
| Cash Flow | Free Cash Flow | ||||
| -69.80M | -95.19M | -136.32M | -182.46M | -132.89M | -90.85M | Operating Cash Flow |
| -54.80M | -80.19M | -128.22M | -179.40M | -116.54M | -83.68M | Investing Cash Flow |
| -15.00M | -15.00M | -2.10M | -22.93M | 40.51M | -7.16M | Financing Cash Flow |
| 94.92M | 70.64M | 32.74M | 75.32M | 148.99M | 172.41M |
Fortress Biotech Technical Analysis
Positive
1.76
Price Trends
1.65
Positive
1.73
Positive
1.77
Negative
Market Momentum
0.04
Negative
55.60
Neutral
76.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBIO, the sentiment is Positive. The current price of 1.76 is above the 20-day moving average (MA) of 1.71, above the 50-day MA of 1.65, and below the 200-day MA of 1.77, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 55.60 is Neutral, neither overbought nor oversold. The STOCH value of 76.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FBIO.
Fortress Biotech Risk Analysis
Fortress Biotech disclosed 64 risk factors in its most recent earnings report. Fortress Biotech reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fortress Biotech Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $52.23M | 2.40 | -50.81% | ― | -11.11% | 79.74% | |
52 Neutral | $5.19B | 3.04 | -44.64% | 2.82% | 16.45% | -0.53% | |
44 Neutral | $55.46M | ― | -1131.02% | ― | ― | 23.55% | |
41 Neutral | $53.52M | ― | -181.84% | ― | -32.11% | 88.12% | |
40 Underperform | $48.67M | ― | -546.55% | ― | 127.51% | 56.94% | |
38 Underperform | $44.54M | ― | -1949.77% | ― | -89.76% | 80.28% | |
27 Underperform | $51.82M | ― | -102.48% | ― | ― | -7.78% |
* Healthcare Sector Average
Performance Comparison
FBIO
Fortress Biotech
1.76
-0.19
-9.74%
CYCC
Cyclacel Pharmaceuticals
2.00
-32.88
-94.27%
BLUE
Bluebird Bio
4.98
-15.62
-75.83%
DTIL
Precision BioSciences
4.69
-8.15
-63.47%
IMRX
Immuneering
1.52
0.05
3.40%
MAIA
MAIA Biotechnology, Inc.
1.83
-1.58
-46.33%
Fortress Biotech Earnings Call Summary
Earnings Call Date:May 15, 2025
(Q4-2024)
| % Change Since: -1.12%|
Next Earnings Date:Aug 18, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook with significant achievements like the successful launch of Emrosi, strong cash position, and positive clinical data publications. However, these were offset by challenges such as decreased net product revenue, increased net loss, and initial payer coverage hurdles for Emrosi.Q4-2024 Updates
Positive Updates
Successful Launch of Emrosi
Journey Medical launched Emrosi, an oral treatment for Rosacea, after receiving FDA approval in November 2024. The product is expected to be transformational, entering a $1 billion treatment category.
Revenue Achievements
Annual revenue for 2024 was reported at $56 million, with the company achieving positive non-GAAP adjusted EBITDA for the sixth consecutive quarter.
Regulatory Milestones Completed
Journey Medical completed all financial obligations related to Emrosi's regulatory fees and development milestones in the U.S., clearing the way for its commercial debut.
Strong Cash Position
Despite significant payments, Journey Medical maintained a strong balance sheet with $20.3 million in cash as of December 31, 2024.
Significant Interest at AAD Conference
The company reported high interest and engagement at the 2025 AAD Conference, supporting a strong launch for Emrosi.
Positive Peer-Reviewed Publications
Phase 3 results of Emrosi were published in JAMA Dermatology, highlighting its clinical superiority and favorable safety profile.
Negative Updates
Decrease in Net Product Revenue
2024 net product revenue decreased to $55.1 million from $59.7 million in 2023, primarily due to higher rebate costs and lower unit volumes of legacy products.
Increase in Net Loss
Net loss to common shareholders increased to $14.7 million in 2024 compared to $3.9 million in 2023, influenced by the absence of significant licensing payments received in the previous year.
Limited Initial Payer Coverage
As of the call, Emrosi had 20% commercial payer coverage and 4% Medicare coverage, indicating initial challenges in gaining insurance adoption.
R&D Expenses Increased
Research and development expenses increased by $2.3 million to $9.9 million due to non-recurring payments related to Emrosi's NDA filing and milestone payments.
Company Guidance
During the Journey Medical's 2024 Financial Results and Corporate Update Conference Call, the management highlighted several key metrics and developments. The company reported an annual revenue of $56 million, with the fourth quarter marking the sixth consecutive quarter of positive non-GAAP adjusted EBITDA. Journey Medical successfully launched Emrosi, an oral treatment for Rosacea, after receiving first cycle FDA approval in November 2024. They also completed $22 million in FDA filing fees and milestone payments to Dr. Reddy Labs. As of December 31, 2024, the company maintained a strong balance sheet with $20.3 million in cash. Despite a net loss of $14.7 million, or $0.72 per share, Journey Medical achieved a positive non-GAAP adjusted EBITDA of $800,000, or $0.04 per share basic. The company anticipates significant growth opportunities with Emrosi entering a $1 billion treatment category, aiming for peak annual sales of $200 million in the U.S. and $100 million internationally.Fortress Biotech Corporate Events
Executive/Board Changes
Fortress Biotech Board Member Resigns for New Role
Neutral
Apr 16, 2025
On April 15, 2025, Lucy Lu, M.D., resigned from the Board of Directors of Fortress Biotech, Inc. to assume the role of Chief Strategy Officer starting April 21, 2025. Her resignation was not due to any disagreements with the company’s operations, policies, or practices.
Spark’s Take on FBIO Stock
According to Spark, TipRanks’ AI Analyst, FBIO is a Neutral.
Fortress Biotech faces significant financial and operational challenges, reflected in its low financial performance score. While the earnings call highlighted key achievements like the launch of Emrosi and a decent cash position, these were offset by declining revenues and increased losses. Technical analysis shows bearish trends, and the valuation is unattractive due to negative earnings. Strategic improvements and successful commercialization of Emrosi are crucial for future growth.
To see Spark’s full report on FBIO stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.